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Skeena Resources’ president and CEO Randy Reichert at the Eskay Creek project, B.C. Credit: Henry Lazenby
Skeena secured a C$1 billion financing package with Orion Resource Partners in June, fueling the mine’s return to production. The deal, which covers the entire pre-production capex, includes an equity investment, a gold stream, a senior secured loan, and a cost over-run facility. It’s remarkable given that permits are still being finalized, Reichert noted.
The study shows an after-tax net present value of C$2 billion at a 5% discount rate and an internal rate of return of 43%, based on a gold price of $1,800 per oz. and silver at $23 per ounce. The payback period is expected to be 1.2 years, with life-of-mine all-in sustaining costs at $687 per ounce. At site, the ongoing early-stage ground work is essential, Reichert said, not just for current operations but also for future exploration. These include studies on steepening pit walls to access more high-grade ore early on and investigating deep porphyry potential at the nearby KSP property.
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